Summary Box: Copper gains on optimism about demand

AP News
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Posted: May 27, 2011 3:45 PM
Summary Box: Copper gains on optimism about demand

CHINA'S COPPER: Copper prices settled up 2 percent on hopes that China's demand may grow stronger after reports indicated warehouse inventories have declined. China is a huge importer of commodities including copper, oil and soybeans.

WEATHER FACTOR: Wheat and corn rose on lingering concerns about the impact that cool, rainy weather is having on spring planting. Corn is in short supply globally. Wheat supplies appear to be growing tighter.

DOLLAR'S IMPACT: Most commodities benefited from a weaker dollar. Since commodities are priced in dollars, buyers who use other currencies get more for their money when the dollar is weak.